Large-Cap Pharmaceuticals

Bristol-Myers Squibb Company

The Company

Bristol-Myers Squibb <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: BMY)") else Response.Write("(NYSE: BMY)") end if %> is a diversified healthcare company with franchises in pharmaceuticals, consumer products, and nutritionals. The company is aggressively pursuing its goal of doubling sales and earnings by the year 2000, using 1993 as its base year. The company's major pharmaceutical franchises are in cancer, cardiovascular, and anti-infective products. Unit growth in the past year rose to 13%, primarily on the strength of new drug offerings. Glucophage (an antidiabetic agent) had sales of $332 million while Pravachol (anticholesterol) accelerated to $1.1 billion in sales.

Latest Financials

Sales for the first quarter ending Mar. 31, 1997, grew 10% (12% excluding the unfavorable effect of foreign exchange) to $4 billion from $3.7 billion in 1996. Domestic sales increased 11% and international sales increased 9% (14% excluding the unfavorable effect of foreign exchange). The consolidated sales growth resulted from a 12% increase due to volume, a 2% decrease due to unfavorable foreign exchange rate fluctuations, and no changes overall from pricing activity. Earnings before income taxes increased 11% to $1,133 million, net earnings increased 12% to $810 million, and earnings per share increased 13% to $0.81.
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